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Measures to repel the increase in bad debts of commercial banks in Vietnam

Nguyễn Thị Diễm My

16:09, 10/05/2022

In the Government's Resolution No. 63/NQ-CP on the Government's regular meeting in April 2022, the Government assigns the SBV to take measures to prevent and reduce the increase in bad debts and cross ownership of commercial banks in Vietnam.

Methods of formulating techno-economic norms of services using the system of measurement standards in Vietnam

The State Bank of Vietnam shall preside over and cooperate with ministries, entities and local authorities in:

- Take charge and cooperate with other ministries and authorities in closely monitoring macroeconomic developments and monetary market developments in order to keep managing monetary policies proactively and flexibly; closely cooperate with fiscal policies and other policies to control inflation according to the set targets, contribute to support and eliminate difficulties for businesses and citizens.

- To expeditiously guide the implementation of Decree No. 28/2022/ND-CP and legal documents on the implementation of national target programs and socio-economic rehabilitation and development programs.

- Adopt measures for preventing and reducing the increase in bad debts and cross ownership of the commercial bank, take drastic and strong measures to ensure the safety of the system of credit institutions and prevent bankruptcy and breakdown that affect the monetary and financial policies; provide effective recovery measures and develop the capital market in a safe, sustainable and healthy manner.

- Cooperate with the Ministry of Public Security in accelerating the application of the National Population Database to the transformation of banking sectors in Vietnam.

Adding the contents of the Resolution No. 63/NQ-CP dated May 03, 2022.

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